A recent Policy Update examined the issues surrounding an income/property tax swap. On December 20, 2010, the Civic Federation released a position paper on Cook County's property tax system that recommends reforms to the property tax system and outlines the organization's opposition to property tax swaps. The Civic Federation supports the taxation of property, but proposes that the ad valorem (according to value) aspect of the tax be preserved through reforms such as limiting exemptions, developing more accurate assessments, and reducing or eliminating Cook County's assessment classification system. The report also calls for more simplicity in the system and more streamlined administration of the tax. In addition, the position paper recommends applying the Property Tax Extension Limitation Law (PTELL) to all counties in Illinois. Currently, PTELL caps property tax extensions for non-home rule governments in 39 counties. CMAP's recently released GO TO 2040 plan also addresses property tax issues. To learn more visit www.cmap.illinois.gov/2040/reform-local-state-tax-policies.